Ecuador's Correa reveals plans to seek third term

QUITO -- Ecuador President Rafael Correa officially announced Saturday that he would run for a third term in February elections — a contest in which he is expected to be the runaway favorite.

"We are in the process of making history, and we will once again carry the citizens' revolution to victory," Correa told thousands of members of his Alianza Pais (Country Alliance) Party at a stadium in the capital Quito.

The leftist Correa, who has led the Andean nation of 14 million people since 2007, is currently far ahead in opinion polls, winning 56-percent support among likely voters.

Far behind are right-wing banker Guillermo Lasso at 22 percent and former president Lucio Gutierrez at 23 percent, according to a recent survey carried out by the private Cedatos polling institute.

"We will again take part in the elections, and we will win again," said Correa, whose nomination, as the only candidate for his party, was a formality.